In accordance with the provisions of Article (13) of the federal law No. (8) of 2011 concerning the rules for preparing the draft of the general federal budget and the final account, and based on the UAE Cabinet’s resolution No. (168/7and/6) on extending the term of the general federal budget from three years to five years, His Highness Sheikh Hamdan bin Rashid Al Maktoum the Minister of Finance has issued a circular regarding the preparation of the draft of the general federal budget for the fiscal year 2018 on the basis of a medium-term plan for 2017-2021.
The circular outlined the required guidelines and instructions to prepare the general budget. This includes:
The necessary procedures to prepare the general federal budget for the fiscal year 2018 via the automated system through reviewing and auditing all data along with attaching the required supporting documents as per the established rules
The necessity to adhere to the budget cap and the approved strategic objectives
The review of revenue forecasts and indicators for each entity according to the strategic plan's objectives
The commitment to the deadline specified to complete the budget and provide it to the Ministry of Finance according to the guidelines, rules and instructions available on the Ministry of Finance’s website as well as in accordance with the set path
(policies and legislations/ manuals/ general budget) and its details as per the following:
The approved manual for the budget preparation process.
The rules of the allocation of cost on activities and services.
The manual for the classification of the functions of government (COFOG) which classifies government expenditure.
The preparation of e tables containing estimated cash flow required to implement the draft budget on the automated system and to accurately distribute among the strategic objectives and the different categories of expenditure.
Financial Circular number (1) of 2018 concerning preparation of the draft of the general federal budget for the fiscal year 2018